HDFC Conservative Hybrid Fund vs Kotak Balanced Advantage Fund
Direct Plan, Growth option · Data as on 30-10-2026
HDFC Conservative Hybrid Fund is a Conservative Hybrid fund and Kotak Balanced Advantage Fund is a Balanced Advantage fund. In the 3 years to 30-10-2026, HDFC Conservative Hybrid Fund (Direct) returned 7.2% a year and Kotak Balanced Advantage Fund (Direct) returned 9.2% a year. HDFC Conservative Hybrid Fund charges 1.18% a year and Kotak Balanced Advantage Fund 0.82% (Direct plans). Their portfolios overlap 20.1%: they hold 31 of the same securities.
HDFC Conservative Hybrid Fund
Conservative Hybrid
- 3 year return
- 7.2%
- Expense ratio
- 1.18%
- NAV
- ₹88.45
Kotak Balanced Advantage Fund
Balanced Advantage
- 3 year return
- 9.2%
- Expense ratio
- 0.82%
- NAV
- ₹22.45
Which is better, HDFC Conservative Hybrid or Kotak Balanced Advantage? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Kotak Balanced Advantage returned more over 5 years: 8.4% a year against 7.4%.
- Kotak Balanced Advantage returned more over 3 years: 9.2% a year against 7.2%.
- Kotak Balanced Advantage costs less: 0.82% a year against 1.18% (Direct plans).
- HDFC Conservative Hybrid swung less over 3 years: a standard deviation of 3.7% a year against 8.0%.
- HDFC Conservative Hybrid fell less in its worst fall since 10-08-2018: −12.1% against −26.3%.
- Kotak Balanced Advantage holds more in large companies: 51.1% of the fund in large caps against 16.3%.
- Kotak Balanced Advantage is the larger fund: ₹16,618 Cr against ₹3,108 Cr.
- Their portfolios overlap 20.1%: 31 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | HDFC Conservative Hybrid Fund | Kotak Balanced Advantage Fund |
|---|---|---|
| Fund house | HDFC Mutual Fund | Kotak Mahindra Mutual Fund |
| Category | Conservative Hybrid | Balanced Advantage |
| AUM | ₹3,108 Cr (30-09-2026) | ₹16,618 Cr (30-09-2026) |
| NAV | ₹88.45 (Direct) | ₹22.45 (Direct) |
| Expense ratio (Direct) | 1.18% | 0.82% |
| Expense ratio (Regular) | 1.70% | 1.88% |
| Riskometer | Moderately High | Very High |
| Benchmark | Nifty 50 Hybrid Composite Debt 15:85 Conservative Index | NIFTY 50 Hybrid composite debt 50:50 Index (Total Return |
| Launch date | 26-12-2003 | 03-08-2018 |
| Minimum investment | ₹100 | ₹100 |
| Lock in | None | None |
| Fund managers | Anupam Joshi, Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar | Rohit Tandon, Hiten Shah, Abhishek Bisen |
| Exit load | Exit load for units in excess of 15% of the investment, 1% will be charged for redemption within 1 year | Exit load for units in excess of 8% of the investment,1% will be charged for redemption within 180 days |
HDFC Conservative Hybrid vs Kotak Balanced Advantage: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| HDFC Conservative Hybrid Fund (Direct) | −0.03% | −1.71% | +0.42% | −0.09% | +7.18% | +7.38% | +8.01% |
| Kotak Balanced Advantage Fund (Direct) | −0.31% | −3.11% | +0.22% | −1.56% | +9.18% | +8.44% | -- |
| Conservative Hybrid average | −0.46% | −1.48% | +0.87% | +1.02% | +7.61% | +7.13% | +7.52% |
| Balanced Advantage average | −0.55% | −2.88% | +0.08% | −2.08% | +9.14% | +8.35% | -- |
Category average: the average of the 18 Conservative Hybrid funds and the 38 Balanced Advantage funds, same plan type.
HDFC Conservative Hybrid vs Kotak Balanced Advantage: Year-wise Returns
| Year | HDFC Conservative HybridHDFC Conservative Hybrid | Kotak Balanced AdvantageKotak Balanced Advantage |
|---|---|---|
| 2026to date | −0.75% | −2.17% |
| 2025 | +6.15% | +7.13% |
| 2024 | +11.07% | +15.67% |
| 2023 | +14.48% | +17.42% |
| 2022 | +6.49% | +5.06% |
| 2021 | +13.84% | +14.43% |
HDFC Conservative Hybrid vs Kotak Balanced Advantage: Rolling Returns
Every holding period of both funds
Rolling returns
Every 3-year holding period, 1,265 of them, one for each trading day from 10-08-2021 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
HDFC Conservative Hybrid Fund (Direct)
Kotak Balanced Advantage Fund (Direct)
to
Jan 2022Nov 2019
to
Nov 2022Oct 2020
to
Oct 2023Sept 2021
to
Sept 2024Jul 2022
to
Jul 2025May 2023
to
May 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HDFC Conservative Hybrid | 0.0 | 0.0 | 20.6 | 79.4 | 0.0 | 0.0 | 0.0 | 10.8% | 10.8% | 6.8% | 14.7% |
| Kotak Balanced Advantage | 0.0 | 0.0 | 3.0 | 86.7 | 10.0 | 0.4 | 0.0 | 12.8% | 12.7% | 8.5% | 22.4% |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. Every fund is measured over the days all of them have, from 10-08-2018. Past returns do not promise future returns.
HDFC Conservative Hybrid vs Kotak Balanced Advantage: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-08-2018 to 30-10-2026: 99 instalments, ₹9,90,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| HDFC Conservative HybridHDFC Conservative Hybrid Fund (Direct) | ₹9,90,000 | ₹13,97,040 | ₹4,07,040 | 8.2% |
| Kotak Balanced AdvantageKotak Balanced Advantage Fund (Direct) | ₹9,90,000 | ₹14,95,965 | ₹5,05,965 | 9.8% |
HDFC Conservative HybridHDFC Conservative Hybrid Fund (Direct)
Kotak Balanced AdvantageKotak Balanced Advantage Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
HDFC Conservative Hybrid vs Kotak Balanced Advantage: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | HDFC Conservative Hybrid Fund (Direct) | Kotak Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | −0.09% | −1.56% |
| Standard deviation | 3.79% | 8.92% |
| Sharpe ratio | -1.41 | -0.76 |
| Sortino ratio | -1.87 | -1.02 |
| Maximum drawdown | −3.6% (30-03-2026) | −8.4% (30-03-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | HDFC Conservative Hybrid Fund (Direct) | Kotak Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.18% | +9.18% |
| Standard deviation | 3.67% | 7.95% |
| Sharpe ratio | 0.32 | 0.40 |
| Sortino ratio | 0.43 | 0.55 |
| Maximum drawdown | −3.6% (30-03-2026) | −9.1% (28-02-2025) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | HDFC Conservative Hybrid Fund (Direct) | Kotak Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +7.38% | +8.44% |
| Standard deviation | 3.66% | 7.33% |
| Sharpe ratio | 0.43 | 0.36 |
| Sortino ratio | 0.58 | 0.49 |
| Maximum drawdown | −4.1% (20-06-2022) | −9.1% (28-02-2025) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 29-10-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | HDFC Conservative Hybrid Fund (Direct) | Kotak Balanced Advantage Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.12% | +10.31% |
| Standard deviation | 5.04% | 9.51% |
| Sharpe ratio | 0.61 | 0.53 |
| Sortino ratio | 0.83 | 0.70 |
| Maximum drawdown | −12.1% (23-03-2020) | −26.3% (23-03-2020) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 01-01-2013 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
HDFC Conservative Hybrid Fund (Direct)
Kotak Balanced Advantage Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| HDFC Conservative Hybrid Fund (Direct) | −12.1% | 11-02-2020 | 23-03-2020 | 13-08-2020 | 5 months | −2.2% |
| Kotak Balanced Advantage Fund (Direct) | −26.3% | 12-02-2020 | 23-03-2020 | 21-07-2020 | 4 months | −4.4% |
From daily values since 10-08-2018, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Conservative Hybrid Fund (Direct)
Kotak Balanced Advantage Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Conservative Hybrid Fund (Direct)
Kotak Balanced Advantage Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 5-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
HDFC Conservative Hybrid Fund (Direct)
Kotak Balanced Advantage Fund (Direct)
HDFC Conservative Hybrid vs Kotak Balanced Advantage: Portfolio Overlap
From each fund's latest monthly portfolio: HDFC Conservative Hybrid Fund, September 2026; Kotak Balanced Advantage Fund, September 2026
Holdings in common
- Overlap
- 20.1%
- Held by both
- 31
- Only in HDFC Conservative Hybrid
- 78
- Only in Kotak Balanced Advantage
- 159
| Security | % of HDFC Conservative Hybrid | % of Kotak Balanced Advantage |
|---|---|---|
| 7.34% GOI MAT 220464 | 2.91% | 5.67% |
| ICICI Bank Ltd. | 2.13% | 4.93% |
| HDFC Bank Ltd. | 1.60% | 3.16% |
| State Bank of India | 1.39% | 3.64% |
| Axis Bank Ltd. | 1.29% | 1.30% |
| Reliance Industries Ltd. | 0.95% | 3.36% |
| Larsen and Toubro Ltd. | 0.85% | 1.99% |
| Kotak Mahindra Bank Limited | 0.81% | 1.25% |
| 7.09% GOI MAT 050854 | 3.01% | 0.77% |
| Bharti Airtel Ltd. | 0.68% | 2.38% |
| Sun Pharmaceutical Industries Ltd. | 0.73% | 0.64% |
| NTPC Limited | 0.62% | 0.70% |
| National Bank for Agri & Rural Dev. | 0.80% | 0.60% |
| Tata Consultancy Services Ltd. | 0.56% | 0.64% |
| Infosys Limited | 0.52% | 1.48% |
| Power Grid Corporation of India Ltd. | 0.50% | 0.70% |
| Hindustan Unilever Ltd. | 0.42% | 0.62% |
| 6.9% GOI MAT 150465 | 2.16% | 0.36% |
| Oil & Natural Gas Corporation Ltd. | 0.44% | 0.31% |
| 360 One Prime Limited | 1.62% | 0.30% |
| Bajaj Auto Limited | 0.28% | 0.48% |
| Embassy Office Parks REIT | 0.70% | 0.27% |
| Coal India Ltd. | 0.27% | 0.38% |
| Bharat Petroleum Corporation Ltd. | 0.24% | 0.65% |
| Indus Towers Limited | 0.24% | 0.40% |
| Power Finance Corporation Ltd. | 0.23% | 0.46% |
| Cipla Ltd. | 0.35% | 0.22% |
| Indus Infra Trust | 0.11% | 0.14% |
| 7.3% GOI MAT 190653 | 2.32% | 0.02% |
| 7.09% GOI MAT 251174 | 1.18% | 0.01% |
| SBI Life Insurance Company Ltd. | 0.41% | 0.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 20.1% means 20.1% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in HDFC Conservative Hybrid Fund
| Security | % of fund |
|---|---|
| 7.23% GOI MAT 150439 | 3.21% |
| Indian Railways Finance Corp. Ltd. | 2.61% |
| Floating Rate GOI 2034 | 2.48% |
| Torrent Power Ltd. | 2.40% |
| Altius Telecom Infrastructure Trust | 1.72% |
Largest holdings only in Kotak Balanced Advantage Fund
| Security | % of fund |
|---|---|
| BAJAJ FINANCE LTD. | 1.75% |
| Solar Industries India Limited | 1.67% |
| Ultratech Cement Ltd. | 1.55% |
| Power Finance Corporation Ltd. | 1.49% |
| Adani Ports and Special Economic Zone Limited | 1.40% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | HDFC Conservative Hybrid | Kotak Balanced Advantage |
|---|---|---|
| Equity | 18.8% | 70.2% |
| Debt | 76.1% | 20.3% |
| Cash and others | 5.1% | 9.5% |
Market cap of stocks
| Market cap | HDFC Conservative Hybrid | Kotak Balanced Advantage |
|---|---|---|
| Large Cap | 16.3% | 51.1% |
| Mid Cap | 1.6% | 9.0% |
| Small Cap | 0.9% | 9.6% |
| Not on AMFI's list | 0.0% | 0.5% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | HDFC Conservative Hybrid | Kotak Balanced Advantage |
|---|---|---|
| Banks | 7.5% | 14.6% |
| IT - Software | 1.6% | 4.3% |
| Petroleum Products | 1.4% | 4.0% |
| Finance | 0.4% | 3.5% |
| Automobiles | 0.7% | 3.5% |
| Auto Components | 0.3% | 3.1% |
| Telecom - Services | 0.9% | 2.9% |
| Power | 1.4% | 1.8% |
| Pharmaceuticals & Biotechnology | 1.5% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
HDFC Conservative Hybrid vs Kotak Balanced Advantage: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | HDFC Conservative Hybrid Fund | Kotak Balanced Advantage Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.18% | 0.82% |
| Base expense ratio (Direct) | 1.00% | 0.54% |
| Total expense ratio (Regular) | 1.70% | 1.88% |
| Base expense ratio (Regular) | 1.44% | 1.44% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare HDFC Conservative Hybrid with
- HDFC Conservative Hybrid vs Parag Parikh Conservative Hybrid
- HDFC Conservative Hybrid vs HSBC Conservative Hybrid
- HDFC Conservative Hybrid vs ICICI Prudential Conservative Hybrid
- HDFC Conservative Hybrid vs Nippon India Conservative Hybrid
- HDFC Conservative Hybrid vs Aditya Birla Sun Life Conservative Hybrid
Compare Kotak Balanced Advantage with
- Kotak Balanced Advantage vs quant Dynamic Asset Allocation
- Kotak Balanced Advantage vs Aditya Birla Sun Life Balanced Advantage
- Kotak Balanced Advantage vs Baroda BNP Paribas Balanced Advantage
- Kotak Balanced Advantage vs Axis Balanced Advantage
- Kotak Balanced Advantage vs WhiteOak Capital Balanced Advantage
HDFC Conservative Hybrid Fund vs Kotak Balanced Advantage Fund: Frequently Asked Questions
What is the difference between HDFC Conservative Hybrid Fund and Kotak Balanced Advantage Fund?
HDFC Conservative Hybrid Fund is a Conservative Hybrid fund, Kotak Balanced Advantage Fund is a Balanced Advantage fund, run by HDFC Mutual Fund and Kotak Mahindra Mutual Fund. Their portfolios overlap 20.1%. HDFC Conservative Hybrid Fund charges 1.18% a year and Kotak Balanced Advantage Fund 0.82%.
Which has given higher returns, HDFC Conservative Hybrid Fund or Kotak Balanced Advantage Fund?
Over 1 year: HDFC Conservative Hybrid Fund −0.09%, Kotak Balanced Advantage Fund −1.56%. Over 3 years: HDFC Conservative Hybrid Fund +7.18% a year, Kotak Balanced Advantage Fund +9.18% a year. Over 5 years: HDFC Conservative Hybrid Fund +7.38% a year, Kotak Balanced Advantage Fund +8.44% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, HDFC Conservative Hybrid Fund or Kotak Balanced Advantage Fund?
Kotak Balanced Advantage Fund charges less: 0.82% a year against 1.18%. These are the Direct plans' total expense ratios reported to AMFI.
How much do HDFC Conservative Hybrid Fund and Kotak Balanced Advantage Fund overlap?
20.1%. They hold 31 of the same securities, the largest shared ones being 7.34% GOI MAT 220464, ICICIBANK, HDFCBANK. From each fund's latest monthly portfolio.
Which is riskier, HDFC Conservative Hybrid Fund or Kotak Balanced Advantage Fund?
On SEBI's riskometer, HDFC Conservative Hybrid Fund is rated Moderately High and Kotak Balanced Advantage Fund Very High. Over 3 years, the standard deviation of daily returns was 3.67% and 7.95% a year.
Which is better for SIP, HDFC Conservative Hybrid Fund or Kotak Balanced Advantage Fund?
Over the last 5 years, a monthly SIP of ₹10,000 from 01-10-2021 to 30-10-2026 grew to ₹7,18,270 in HDFC Conservative Hybrid Fund (XIRR 6.4% a year) and ₹7,41,532 in Kotak Balanced Advantage Fund (XIRR 7.6% a year). Both received 61 instalments. Past returns do not promise future returns.
Can I invest in both HDFC Conservative Hybrid Fund and Kotak Balanced Advantage Fund?
Yes. 20.1% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages HDFC Conservative Hybrid Fund and Kotak Balanced Advantage Fund?
HDFC Conservative Hybrid Fund: Anupam Joshi, Anand Laddha, Gopal Agrawal, Bhagyesh Kagalkar. Kotak Balanced Advantage Fund: Rohit Tandon, Hiten Shah, Abhishek Bisen.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.